Federal Signal back on track
OAK BROOK — Federal Signal Corp. posted net income of $4.8 million for the fourth quarter, a reversal from a loss a year ago that stemmed from hefty one-time charges.
The company, based in Oak Brook, makes products ranging from street sweepers to toll booth technology for government, industrial and commercial customers.
For the quarter ended Dec. 31, Federal Signal's profit amounted to 8 cents per share. A year ago, it lost $15.2 million, or 25 cents per share, in the same quarter. The prior-year period included 36 cents per share in losses from discontinued operations.
Revenue rose 12 percent to $217.7 million from $195 million.
Sales of safety and security systems increased 11 percent to $67.1 million, boosted by higher industrial sales. Fire rescue sales increased 7 percent to $44.4 million on higher Asian and Australian demand, while environmental solutions revenue rose 14 percent to $106.2 million, helped by an increase in municipal sewer cleaner and street sweeper shipments.
For the full year 2012, the company posted a loss of $27.5 million, or 44 cents per share, compared with a loss of $14.2 million, or 23 cents per share, in 2011. Revenue increased to $803.2 million from $688.7 million.
Federal Signal shares fell 11 cents to $7.69 in afternoon trading Friday. They have traded in a 52-week range of $4,47 to $8.63.
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